Question

Suppose the quantity demanded increases by 150 tons at every price. Consider the market for strawberries represented in the schedule below. What is the new equilibrium price? $ What is the new equilibrium quantity? tons 275 Do NOT press Enter after typing the answer in each cell. Use Tab or take the cursor to the next cell. Price Quantity Supplied Quantity Demanded ($/b.) (tons) (tons) $3.00 125 2.50 250 175 2.00 225 225 1.50 200 275 1.00 175 325 0.50 150 375 Submit Do you know the answer? I know it Think so Think so Unsure unsure No idea No idea SMALL MEDIUM LARGE

Answer 1

My - 225 When quantity demord increases by $150 for every forsice then, Price Qty dened New aty Qty suppy $3 1275 275+150=425 125 2.5 | 250 250+1502 You 175 2.00 225 375 1.5 T 200 275 ( 1 1 125 325) tos | 150 | 300 from the table above Alew equilibrium price = $1 New equilibrium qty = 325 tons. (325 375